Job Description
We are looking for a bright and motivated Legal Cashier to join our clients Cashiering team. The primary purpose of this role is to ensure the firm complies with the SRA Accounts Rules 2.5 which requires client money to be returned promptly to the client, or the third party for whom the money is held as soon as there is no longer any proper reason to hold those funds or otherwise inform clients in writing of client money retained.
Our client is a leading law firm with origins dating back to the late 1700s. Having established themselves as market leaders in banking and corporate, they have grown internationally with over 700 members of staff located across offices in the UK, Middle & Far East.
Our client believes in investing in its staff, providing an on-site staff restaurant and offering a desirable benefits package which includes Holidays (buy/sell), pension, gym membership, pension etc. They also have an on-site staff restaurant.
Responsibilities
* Running the firms Client funds reporting system and ensuring fee earners are provided with the information necessary for them to confirm compliance with rule 2.5.
* Monthly progress reports to Client Accounting Manager on balances held to allow further reporting to Finance and Firm Management.
* Assisting fee earners to return client money on completion of their matters. This may require:
* Analysis of client account transactions and balances from Finance systems and matter files
* Issuing credit notes, re-billing and making WIP, disbursement and other ledger adjustments
* Identifying/confirming the client's bank details and addresses before remitting funds
* Writing to clients seeking their agreement to pay balances <£500.00 to charity
* Obtaining partner approval to make withdrawals from client account
* Assisting fee earners to identify the reason why client funds are being held and ensuring clients are informed in writing about any balances retained by the firm.
* Where the identity or whereabouts of a client are not known carry out procedures set out in the firms Old Client Balances checklists to arrange withdrawal of client funds. This will include completing old client balances checklists and retaining records of steps taken to identify and return funds, and where needed further actions such as carrying out searches or instructing agents.
* Where it has not been possible to trace clients for larger balances this role would then involve preparing the application to the SRA to enable payment of balances to charities after obtaining the required indemnities.
Candidate Profile
* Previous law firm experience
* A good working knowledge of the SRA Accounts Rules and specifically dealing with residual balances.
* Client account cashiering experience
* Experience in working on client matters and/or reviewing client matter files
* Knowledge of working on Thomson Reuters 3E and FileSite (preferential)
Important Notice
It is Career Legal’s policy, as a matter of courtesy, to respond to all applications within three working days. However, because of the volume of applications, we are sometimes unable to respond to individual candidates. If we have not contacted, you within three working days your application has been unsuccessful, and your details have not been retained. Please apply for any other position that you may see in the future. Thank you.